Xstrata wants more

XSTRATA and major shareholder Glencore are reportedly chasing a takeover offer of at least £50 ($A109.40) per share after rejecting Vale's informal offer of £40 for each share earlier this week.
Xstrata wants more Xstrata wants more Xstrata wants more Xstrata wants more Xstrata wants more

Xstrata's Newlands operation

Rebecca Lawson

A Brazilian newspaper has reported that Xstrata and Glencore want Vale to increase its bid to $US95 billion ($A106 billion), a price more than what the Brazilian mining company is willing to pay.

Both companies are remaining tight lipped on the deal.

Earlier this week it was reported that Xstrata had rejected an informal offer of just under £40 per share, valuing the bid at around £38.9 billion or $A84 billion.

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